Burnley Football Club have today confirmed that Liverpool must pay up to £8 million for striker Danny Ings, a record for a tribunal ruling. The fee is made up of an initial payment of £6.5 million guaranteed, with an additional £1.5 million through various add-ons.

Ings, 23, moved from Burnley to Liverpool last summer at the end of his contract, but a tribunal was needed as the clubs could not agree a compensation figure. Bournemouth, who sold Ings to Burnley for £1m in August 2011, will receive a proportion of the fee, expected to be about £200,000.

Burnley chief executive David Baldwin said, “This is an unprecedented record payment for training compensation and not a transfer fee. As the initial fee decided by the committee represents almost double the previous record for a tribunal.

This fully justifies our decision to press ahead with what we felt was a fair reflection of the part Burnley played in Danny’s development. Burnley will also receive 20% of any profit on a future sale.

The previous record compensation fee was the £3.5m Chelsea were instructed to pay Manchester City in 2009 for striker Daniel Sturridge, a sum that rose to £8.3m following add-ons and a sell-on fee incorporated in the deal that took Sturridge to Liverpool in 2013.